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Experian Report: Senior Citizens in New Jersey Debt Levels at $76,020

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the staff of the Ridgewood blog

Ridgewood NJ, Experian has just released a new study that takes a look at debt and credit for senior citizens (considered as people 60 years or older for this analysis) in the United States.

Our findings:

  • Across the U.S., senior citizens have an average FICO® Score of 745 – 44 points higher than the national average of 701, according to Experian data from the fourth quarter of 2018.
  • Senior citizens (considered as people 60 years or older for this analysis) also carry an average of $70,633 in total debt, though seniors in some states carried almost double that amount.
  • Senior citizens in the District of Columbia have the highest average total debt – at $132,366.
  • Senior citizens in New Jersey rank 16th for highest debt – at $76,020.

See the rest of our findings here: https://www.experian.com/blogs/ask-experian/research/where-senior-citizens-carry-the-most-debt/

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Seniors Increasingly Targeted by Scammers

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By: Emma Fletcher(FTC)

Ridgewood NJ, In 2018, the Consumer Sentinel Network has seen a striking increase in the median dollar amount that people 70 and over are saying they lost to fraud. Digging into the data, we found some common stories with an unusual twist: people 70 and older report mailing huge amounts of cash to people who pretended to be their grandchildren.

People 70 and over rarely report to the FTC that they paid a scammer with cash. But for one particular type of fraud – family and friend imposters – fully 25% of people 70 and over who reported to the FTC how they paid money told us they sent cash.

We call these family and friend imposter scams, but you may know them as the “grandparent scam” and with good reason. People 70 and over report that the scammer posed as a grandchild, usually a grandson, about 70% of the time.

Continue reading Seniors Increasingly Targeted by Scammers

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‘First Time in Human History’: People 65 and Older Will Outnumber Children Under 5

life insurance seniors

By Terence P. Jeffrey | March 31, 2016 | 3:20 PM EDT
People in line at an ATM machine in Athens, Greece, on July 10, 2015. (AP Photo/Spyros Tsakiris)

(CNSNews.com) – Sometime in the next four years the global population of human beings who are 65 and older will surpass those under 5 for the first time, according to a new report from the U.S. Census Bureau.

“For the first time in human history, people aged 65 and older will outnumber children under age 5,” says the report, entitled “An Aging World: 2015.”

“This crossing is just around the corner, before 2020,” says the report.

“These two age groups will then continue to grow in opposite directions,” it says. “By 2050, the proportion of the population 65 and older (15.6 percent) will be more than double that of children under age 5 (7.2 percent).

“This unique demographic phenomenon of the ‘crossing’ is unprecedented,” says the Census Bureau.

https://cnsnews.com/news/article/terence-p-jeffrey/first-time-human-history-global-population-over-65-poised-pass